Anticipated Increase in M&A Disputes in Latin America
Nubank, under the leadership of CEO David Velez, has secured the top position as the world’s premier digital bank, as per the latest ranking from TABInsights, the World’s Top 100 Digital Banks Ranking for 2025. This accomplishment marks a significant milestone for the Brazilian-based digital bank and demonstrates its continued commitment to excellence in the digital banking sector.
Recent forecasts suggest that M&A disputes in Latin America are on the rise, driven by concerns surrounding the political and economic stability of major economies in the region, such as Brazil and Mexico. According to Berkeley Research Group’s annual M&A Disputes Report, key drivers of disputes in Latin America include contract provisions focused on managing economic uncertainty, such as PPAs and true-ups, along with put and call options and redemption rights. Given the ever-changing political and regulatory landscape in Latin America, dealmakers are increasingly incorporating these provisions into agreements to mitigate future disputes.
Alejandro Martinolich, Associate Director at BRG in Buenos Aires, highlighted the unique conditions in Latin America that make it ripe for disputes, considering valuable assets, political changes, and macroeconomic uncertainties. The region’s susceptibility to foreign exchange (FX) volatility is another significant factor contributing to the escalation of disputes, highlighted by sharp declines in the value of the Mexican peso and Brazilian real in 2024.
In terms of individual wealth, Forbes and Bloomberg have published their lists of the wealthiest individuals in the world, with notable figures from Latin America making the cut. Mexican tycoon Carlos Slim continues to hold the title of the richest man in the region, followed closely by Eduardo Saverin, co-founder of Facebook. Additionally, Mexican businessman German Larrea and Chilean Iris Fontbona and family feature prominently on the list of top billionaires, underscoring the region’s wealth distribution.
A surprising entry on the billionaire list was Jaime Gilinski, who surpassed Colombian David Velez in terms of wealth. Gilinski’s successful acquisition of Grupo Nutresa in 2021 boosted his fortune significantly, establishing him as a prominent figure in Colombia’s business landscape.
The aviation sector in Latin America has also received recognition, with Mexican airlines Aeromexico and Volaris making impressive appearances in global rankings for their exceptional services. Aeromexico secured a spot among the top 25 airlines worldwide, while Volaris was recognized as one of the top 20 low-cost airlines for 2025.
The leadership transition at the Brazil-U.S. Business Council (BUSBC) saw Augusto Urmeneta, President of Bank of America for Latin America, assuming the role of Chairman, with Alexandre Gibim, Country President for Pfizer Brazil, appointed as Vice Chairman. These appointments signal continuity and strategic leadership within the BUSBC, further enhancing bilateral business relations between Brazil and the United States.
